7 890,00 USD

ZLATOVNA ECONOMIC NEWS
A quick look at what's new in the world of economic policy, finance and precious metals.

Economy: Growth of manufacturing activity in the US accelerated in July. Industrial prices slowed down again in July, year-on-year decline. The election of Dlouhý to the head of the HK is welcomed by union leaders and Minister Havlíček. Respilon is already producing respirators in Brno, and is preparing a second line. The US economy fell by 32.9 percent in the second quarter. Analysts: Retail trade stagnated in June, a decline is expected this year. Expert: The decline in the construction industry is the worst result in seven years. The Czech economy, like others, fell by a record in the second quarter. CZSO: The Czech economy fell by 10.7 percent year-on-year in the second quarter. Ifo: German companies expect it to return to normal in 11 months. Railway Authority: Railway audit will be completed in the fall. The Financial Administration received 2.75 million tax returns, less than last year. Income tax after the abolition of the super-gross wage can be from 15 to 19 percent. Council: Without further amendments, budget proposals threaten public finances. Czech share in space events is growing, over 60 companies have participated. Deutsche Bank improved its outlook for this year's global economic development. Analysts: Data from industry is positive, but the decline will continue. CZSO: 60 percent of entrepreneurs experienced the impacts of the coronavirus crisis. Over 31,000 sole traders started businesses in the Czech Republic in the first half of the year. According to analysts, retail trade in the Czech Republic is heading for a full-year decline.

Stock exchanges: Russia plans to invest in expanding the production of precious metals. The price of gold has exceeded $2,000 per troy ounce for the first time.

Finance: Česká spořitelna's net profit fell by 47.1 percent to CZK 4.6 billion. Analysts: The price of silver has exceeded seven-year highs, will continue to rise. Wirecard has agreed to sell its activities in Brazil. Goldman Sachs has reduced its reported profit due to the dispute over the 1MDB fund. Bloomberg: The pandemic is pushing millions of Europeans into a debt crisis. Komerční banka's profit fell by 38.5 percent in the first half of the year. Household debts with banks rose to CZK 1.796 trillion in June. Survey: More than four-fifths of Czech households save. Association: Non-banking companies provided a fifth less money this year. Erste Group's profit fell by 60 percent in the first half of the year. The Czech National Bank has worsened the outlook for public finances this year and next year. July inflation of 3.4 percent was in line with the CNB forecast. MF: The volume of money on the financial market increased to 6.9 trillion CZK last year. EY: Czechs are starting to worry about their finances, a third of their income has fallen. Bank loans fell by 264 billion in June to 5.922 trillion CZK. Moneta's profit for the first half of the year fell by 40 percent year-on-year to 1.2 billion. According to analysts, the price of gold will continue to grow in the longer term. Jiří Schneller has joined the board of directors of the Czech Export Bank. Survey: A third of households lost part of their income during the pandemic. Uniqa insurance company collected 6.6 percent more in premiums this year. The New Zealand central bank has expanded its bond purchase program. Analyst Kovanda has become the chief economist of the Czech Trinity Bank. The Czech National Bank is expected to leave interest rates unchanged on Thursday.